May 26, 2000

U. of Texas Business School Gets No-Strings-Attached Pledge of $50-Million

In an unusual display of no-strings-attached giving, a Texas businessman has pledged $50-million to the University of Texas at Austin's business school.

Investment income from the endowment can be used at the discretion of the school, which will be renamed the Red McCombs School of Business, in honor of the donor, B.J. McCombs, who goes by "Red." Unrestricted gifts of this magnitude are rare for colleges.

Mr. McCombs, who attended the university and now